Future Supply Chain, Hindustan Aeronautics hit lowest level since listing

Future Supply Chain Solutions dipped 7% to Rs 620, while Hindustan Aeronautics was down nearly 2% at Rs 948 on the BSE in intra-day trade today

Shares of Future Supply Chain Solutions (FSC) and Hindustan Aeronautics (HAL) have hit their respective lowest values since their listing on the bourses.

FSC, a Future Group Company, has dipped 7% to Rs 620 on the BSE. The stock made its debut on December 18, 2017, trading 7% lower against its initial public offer price of Rs 664 per share.

Since April 24, 2018, post January-March (Q4FY18) results, the stock underperformed the market by falling 14% as compared to 3% rise in the S&P BSE Sensex.

FSC had reported a single digit 3.5% year on year (YoY) growth in its standalone net profit at Rs 178 million Q4FY18, due to higher cost of logistics services. Operational revenue during the quarter however increased by 50% at Rs 2,224 million over the previous year quarter.

EBIDTA (Earnings before interest, tax, depreciation and amortization) margin declined to 14.4% in Q4FY18 from 16.2% in Q4FY17 and 17% in Q3FY18.

HAL, the state-owned aerospace company, down 1.6% to Rs 948 in intra-day deal, its lowest level since listing on March 28, 2018. The stock was quoting 22% below its issue price of Rs 1,215, yet to touch IPO price.  It hit a high of Rs 1,184 in intra-day trade on its first day of listing. The retail individual and eligible employees had offered a discount of Rs 25 on the offer price.

The company reported 22% (YoY) declined in its standalone net profit at Rs 11.24 billion in Q4FY18. Revenue from operations was too down 6% at Rs 90.68 billion over the previous year quarter.